Friday, January 07, 2005

 

2004 Job Creation Is Best in Five Years

More good news for our economy. The economy continues to move ahead, in a positive direction. This, despite an entire presidential campaign in which the left told us what terrible shape the economy was in and how Bush's tax cuts and economic plan was a miserable failure.

U.S. employers added 157,000 workers overall to their payrolls in December, bringing the year-end total of new jobs to 2.2 million, the best showing in five years. The unemployment rate held steady at 5.4 percent.

With Friday's report, Bush is close to closing the gap in job creation that has plagued him since taking office in 2001. There are now just 122,000 fewer jobs

The service sector continued to spark overall hiring in December. But the job growth was concentrated in the health care industry, which added a net 36,000 positions, and business and professional services, which hired a net 41,000 workers.

The nation's civilian unemployment rate has hovered at 5.4 percent and 5.5 percent since July, slightly below levels earlier in the year.


The numbers which do not appear in these reports are all the people who quit working at a large company or corporation and started their own small business. Over the last four years, I'm sure that these people more than make up for the 122,000 jobs which is still claimed as the "Bush job deficit."

Critics of these numbers will say the all the created jobs are in low wage positions. Clearly this is not true or all the jobs would have been in the service industry. Instead, we see that the health care industry as well as business and professional services grew the most.

Most any non-partisan observer would easily come to the conclusion that the economy is doing well. Our friends on the left, however, will never forget the humiliation suffered at Bush's hands two elections in a row. As a result, you will continue to hear hogwash about how the economy is not doing well.



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